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Episode 2: Five Things Every Real Estate Investor Needs to Know About Accounting

Episode 2: Five Things Every Real Estate Investor Needs to Know About Accounting

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Today in the second episode of REI Accounting Talk, host Sarah Bratcher talks about five things every real estate investor needs to know about accounting. The first thing is finding the right accounting software that fits your needs and goals. Next, separating business and personal transactions is crucial in protecting yourself and keeping your books clean for tax purposes. The third thing is creating a system for organizing your documents in a cloud-based system for 3-6 years. The fourth thing is using a chart of accounts that In this episode, Sarah discusses the basics of real estate investing accounting, including entity structure, choosing a bank, expense tracking, chart of accounts, and finding the right CPA. She also mentions that you don't have to hire a CPA and can consider an enrolled agent or a bookkeeper instead. Sarah emphasizes the importance of having a proactive CPA who understands real estate investing and is a good fit for your needs. To contact Sarah, you can email her at Sarah@reiaccountingsolutions.com

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